Is It a Good Time to Sell a House In Colorado?
When is a good time to sell a house in Colorado? In the Denver metro area, home sellers are asking, is now the time to sell my Lakewood CO house? Are homes in all Denver suburbs selling? Sam Wilson, a knowledgeable Lakewood CO realtor, shares reasons why now might be the perfect time to sell your home.
Is It a Good Time to Sell My Lakewood CO House or Denver Area Home?
Any time to sell your house is a good time when the circumstances are right. Let’s look at six reasons that now may a good time to sell a house in Colorado and the Denver suburbs.
- Interest rates are low
- Buyers are looking for homes during the winter months and the holiday seasons
- Homeowners with starter homes or growing families can’t wait to buy a larger home
- Working at your dining room table is getting old
- The home you have is too much to take care of—you’re thinking of downsizing
- It’s time to take the equity out of your home
1 Interest Rates Are Low
Mortgage rates are low, averaging below 4%, which means that homeowners purchasing a replacement home get more for their money. Homebuyers can get into a bigger house at a lower monthly payment. At 3%, the mortgage rate on a $400,000 home with a 10% down payment averages $2090.
A rise to a 4% interest rate increases a monthly payment by $217. This difference may mean that the monthly payment is no longer manageable and pushes your home up into the next price bracket.
Current interest rates are at historic lows for any home seller wondering if now is a good time to sell a house in Colorado. Your money goes further when interest rates are low. If you’re thinking that it’s time to sell my Lakewood CO house or your house in the Denver metro area—you’re probably right.
2 Buyers Are Looking for Homes During the Winter Months and the Holiday Season
Serious home buyers don’t stop looking when the weather turns cooler or the holidays are upon us. In fact, the times of the year that everyone else slows down or may be distracted is the perfect time to sell your home and find your next dream home. Selling and buying during what is perceived to be the slow season give you a competitive advantage over home sellers or home buyers who are too busy or waiting until life slows down.
Any time of the year is an excellent time to sell a house in Colorado when home sellers hire the right realtor and take the appropriate steps to prepare a home for sale. If you want to know how to sell your home fast and learn what attracts home buyers, check out our FREE home seller tips report page.
The truth is that a knowledgeable realtor like Sam Wilson can offer real estate advice about preparing and marketing your home for sale at any time of year. Home sellers who take action, rather than those who keep waiting, are the ones who win and get the most money from selling a home.
3 Homeowners With Starter Homes or Growing Families Are Waiting for Your Home to Come on the Market
There are times in life that result in the need for a larger home. Families in starter homes with children may be bursting at the seams, especially if another child is on the way. Home improvements that increased the value of a starter home may allow you to upgrade to a home with more space and the yard of your dreams.
If you are homeschooling children, creating space for a desk or a computer table can lead to cramped quarters. If children go out of the home for school—and space is limited—placing a desk in a high traffic area may not support the level of quiet and concentration to excel at school projects.
Single homeowners or couples who purchased a starter home years ago may have contributed hours of sweat equity to update the home. There’s no time like the present to reap the financial benefits of your hard work and use the equity gain in your home’s value to sell your house in Denver or the suburbs and find the next perfect home. Contact the Sam Wilson Home Selling Team to learn more about the value of your home and to search for your next home.
4 Working at Your Dining Room Table is Getting Old
A good time to sell a house in Colorado is when you find yourself working at home instead of at the office. The pandemic has changed the way that companies look at work. Remote workers now make up a substantial portion of the workforce, and this trend will continue.
If you find yourself in a crowded or uncomfortable space, now is the perfect time to sell. Buying a new home and having an extra bedroom that you can convert to a home office can make a significant difference in focusing and being productive while working remotely.
As you’ve probably noticed, working at home has many benefits. You avoid the commute to work and can take care of family responsibilities as they come up by adjusting your work schedule.
Working at home is a new way of life that many employees are learning to manage and love. Why not sell your too-small home and trade up to the home of your dreams that fits this new work-family-home lifestyle? Now is the perfect time to sell and buy a home in the Denver metro area.
5 The Home You Have is Too Much to Take Care of—You’re Thinking of Downsizing
If you think it’s time to sell my Lakewood CO house or your home in Denver, Colorado, you may be right. Many adults are at that point in life where children have moved out of a home that has become an ongoing project to maintain.
Depending on where you live, shoveling snow or keeping up with a yard that you once enjoyed— may no longer be where you want to commit your time. Are you close to retirement or retired, wanting to spend time doing more of the things you love and less of the things you feel you have to do?
A good time to sell a house in Colorado is when you reach the point that you want more day to day freedom without the burden of maintaining a large home. For homeowners wishing to downsize, the time to sell is now while buyer demand for family homes is high.
Multigenerational Households are On the Rise
Current trends resulting from the pandemic confirm that more families are becoming multigenerational households. This real estate trend for multigenerational households is a repeating trend expected to pick up as a result of the pandemic.
If you are an older adult experiencing health issues, moving closer to or in with family may offer peace of mind. Selling your home and having the money to pay for healthcare costs may be a relief to you and adult children who may be concerned about what happens if or when you need care.
According to PEW research, in 2016. a record 64 million Americans lived in multigenerational households. A similar trend in multigenerational housing occurred during and immediately after the economic recession of 2007-2009 and is likely to repeat as businesses and the economy recover post COVID.
6 It’s time to take the equity out of your home
Are you at a point in life where owning a home no longer fits into your lifestyle, or you want to be closer to your children or family who live across the country? If yes, it’s a good time to sell a house in Colorado. A desire to relocate is the perfect reason to sell a home now instead of staying put.
Interest rates are low across the country, and you may be able to buy a home in a lower-priced real estate market and put money in the bank. There’s no reason to wait for a rainy day or the spring to decide to sell your home. As common wisdom says, “there’s no time like the present,” when now is the perfect time to sell a home in Colorado.
Is Now a Good Time to Sell My House in Colorado?
Only you can answer this question based on your individual situation. If you are curious about the value of your home and how fast it will sell, contact Sam Wilson and he will prepare a FREE no-obligation home sales price opinion to share with you.
Selling a home in the Denver metro area or a suburb like Lakewood CO is a big decision. It’s important to get all of the facts from Sam Wilson, a knowledgeable realtor in Lakewood CO.
Home sellers working with the Sam Wilson Home Selling Team are featured on our VIP home seller page that offers additional exposure to get your home sold quickly and for the most money.
© 2020 Sam Wilson All Rights Reserved. All Articles by Pamela D. Wilson MS, BS/BA